55,888 Shares in Tesla, Inc. $TSLA Bought by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, HoldingsChannel reports. The fund acquired 55,888 shares of the electric vehicle producer’s stock, valued at approximately $17,753,000. Tesla accounts for about 2.0% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 26th largest holding.

A number of other institutional investors have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter valued at $27,000. Finally, Chelsea Counsel Co. boosted its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 7.4%

TSLA opened at $395.94 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. The company’s 50-day moving average is $328.89 and its 200 day moving average is $303.57.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Argus reiterated a “hold” rating on shares of Tesla in a report on Monday, June 9th. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $303.00.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,606 shares of company stock worth $51,999,662. Insiders own 20.70% of the company’s stock.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.